Rio to build power plant at Oyu Tolgoi copper-gold mine in Mongolia

Rio to build power plant at Oyu Tolgoi copper-gold mine in Mongolia Move would add further costs to an ongoing $5.3 billion underground expansion of the mine. Cecilia Jamasmie | Feb. 23, 2018, 3:34 AM | | Mining giant Rio...

/ February 23, 2018

Sibanye-Stillwater turns off dividend tap after annual loss

JOHANNESBURG, Feb 22 (Reuters) – Precious metals producer Sibanye-Stillwater cut off the dividend stream that has made it an investor darling after reporting an attributable loss for 2017 on Thursday. Sibanye’s share price fell 13 percent, underscoring disappointment among investors...

/ February 23, 2018

Zimbabwe resumes diamond sales, expects to auction 1.56 million carats

Zimbabwe’s Minister of Mines, Winston Chitando, held a press conference this week to announce that, following its one-year break, the country has resumed diamond auctions and expects to sell 1.558 million carats of diamonds over the next two months. According...

/ February 23, 2018

Mandalay’s coffers suffered from Cerro Bayo’s downtime

The President and CEO of Canada’s Mandalay Resources (TSX:MND), Mark Sander, dubbed 2017 as a challenging year for his company. In a press release outlining Mandalay’s unaudited 2017 fourth quarter and full-year financial results, Sander said that the company generated...

/ February 23, 2018

Gold bulls, brace yourselves – Fed hikes are coming!

Are they? As usual, the FOMC minutes provoked diverse interpretations, both dovish and hawkish. Let’s analyze them, separating the wheat from the chaff. What do the recent minutes really mean for the gold market? Hawks attack bullion We have long...

/ February 23, 2018

Rio Tinto says changing structure, moving some staff

LONDON, Feb 22 (Reuters) – Rio Tinto is moving some of its support staff as it creates three global hubs, but is not changing its operating model, it said on Thursday. Rio Tinto, the second biggest miner by market capitalisation,...

/ February 23, 2018

Kaz Minerals sets higher output targets for 2018 as profits jump

LONDON, Feb 22 (Reuters) – Kazakhstan-focused Kaz Minerals on Thursday reported a jump in 2017 sales and production as its main mines ramped up and said it expected its 2018 output to rise as much as 16 percent. The London-listed...

/ February 23, 2018

Cobalt price: Supply scramble heats up with Canadian deal

Core logging at Dumont, the world’s largest undeveloped cobalt and nickel sulphide reserve. Image: RNC Minerals Investors piled into Cobalt 27 Capital Corp (TSX-V:KBLT) and RNC Minerals (TSX:RNX) on Thursday after the companies entered into a royalty deal on all...

/ February 23, 2018

Macquarie denies claims its brokers manipulated mining stock

(Bloomberg) — Macquarie Group Ltd. has denied allegations that some of its brokers and wealth advisers manipulated stock prices or failed to act on client instructions regarding the collapse of Cleveland Mining Co. shares. Disgruntled investors and Cleveland Mining executives alleged...

/ February 23, 2018

US copper stocks sprint to record high, reflecting transport costs, weak demand

LONDON, Feb 22 (Reuters) – Record high stocks of copper in land-locked Arizona and Utah are a reflection of soaring transport costs in the United States and weak demand for the industrial metal produced in the Americas, copper industry sources...

/ February 23, 2018

Barrick to hike gold output as Newmont gets too close to being world’s top producer

Barrick to hike gold output as Newmont gets too close to being world’s top producer Miner is developing projects expected to contribute more than 1 million ounces of annual production Cecilia Jamasmie | Feb. 22, 2018, 9:03 AM | |...

/ February 23, 2018

Barrick clings to top gold miner title as Newmont falls short

Barrick clings to top gold miner title as Newmont falls short About 50,000 ounces — roughly 125 gold bars — is all that stands in the way of Newmont overtaking Barrick as world’s No.1 bullion miner. Bloomberg News | Feb....

/ February 23, 2018